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Indian 2019 Green Bonds Markets Hits $10.3Bn (Int'l. Report)
Green Bond
Date: 2020-02-17
According to the India Brand Equity Foundation's (IBEF) India Economic Survey 2019-20, India has become the second-largest market globally for "green" bonds with $10.3 billion worth of transactions in the first half of 2019. China is the market leader.

The survey also notes that Social Bonds also maintained visibility with $5.5 billion of issuance within the labeled market. Climate bonds remained focused on green bonds, which are specifically linked to climate-change mitigation, adaptation and resilience.

"Green" bonds are debt securities issued by financial, non-financial or public entities where the proceeds are used to finance 100 pct green projects and assets.

In an effort to increase environmentally sustainable investments, India joined the International Platform on Sustainable Finance (IPSF) in October 2019. IPSF acknowledges the global nature of financial markets which can help finance the transition to a green, low carbon and climate resilient economy by linking financing needs to the global sources of funding. (Source: IBEF, Energy Infra Post, 16 Feb., 2020) Contact: IBEF Economic Survey, www.ibef.org/economy/economic-survey-2019-20, www.ibef.org

More Low-Carbon Energy News Green Bond,  Climate Bond,  


UK National Grid Offers €500Mn Green Bond (Int'l. Report)
National Grid
Date: 2020-01-15
In the UK, National Grid reports it is launching a €500 million green bond issuance to finance its expanded efforts in renewable energy, energy efficiency, sustainable energy management and climate related initiatives. The offer is the British utility firm's first foray into the green bonds market since publishing its Green Financing Framework in November last year.

Of the total €500 million issuance, 74 pct would be used for renewable energy, 13 pct for environmentally sustainable management, 11 pct for energy efficiency, and 2 pct for clean transportation and pollution prevention.

BNP Paribas is acting as the sole green structuring advisor and joint book runner. (Source: National Grid, Business Green, 14 Jan., 2019) Contact: UK National Grid, Kayte O'Neill, Head of Strategy and Regulation, www2.nationalgrid.com/uk

More Low-Carbon Energy News National Grid ,  Green Bond,  


Credit Agricole CIB Offering Green Securities (Int'l Report)
Credit Agricole,Daiwa Securities
Date: 2019-12-30
Credit Agricole Corporate and Investment Bank (Credit Agricole CIB) and Daiwa Securities Group have jointly announced the issuance and sales of Green Securities. This is the first time that Credit Agricole CIB will issue index-linked structured uridashi as green bonds denominated in Japanese yens and distributed by Daiwa Securities Co Ltd to Japanese individuals and institutional investors.

An amount equal or equivalent to the net proceeds of the Green Securities will be used to finance and/or refinance one or more of the new or existing loans and investments including renewable energy -- wind and solar projects, bioenergy, energy efficiency, waste and water management, building sustainability, clean transportation and other "green" projects.

Credit Agricole Group, sometimes called "la banque verte" due to its historical ties to farming, is the world's largest cooperative financial institution. It consists of a network of Credit Agricole local banks, the 39 Credit Agricole regional banks, and a central institute, the Credit Agricole S.A.. Credit Agricole supports environmentally engaged companies and projects which implement best practices in terms of energy transition and climate change strategies in line with the COP25 Paris Agreement. (Source: Daiwa Securities, Credit Agricole, PR, 23 Dec 2019) Contact: Daiwa Securities , www.daiwa-grp.jp › english; Credit Agricole, www.credit-agricole.fr

More Low-Carbon Energy News Credit Agricole,  Green Bond,  Green Securities,  Daiwa Securities ,  


AIIB Announces Planned Green Investment Fund Launch (Int'l.)
Asian Infrastructure Investment Bank
Date: 2019-11-25
In Beijing, the Asian Infrastructure Investment Bank (AIIB) reports its is months away from launching an investment framework aimed at mobilizing capital for climate-friendly infrastructure projects.

The bank has set aside $500 (US) million for the project, which it will invest in green bonds issued by infrastructure companies. The core criteria of the fund is to finance projects that help the nation in which they are based meet their commitments under the UN Paris Climate Agreement 2015.

To date, AIIB has raised roughly $20 billion in paid-in equity from its 75 member nations and a total of almost $100 billion of subscribed equity, of which only $10 billion has been invested, according to the release. (Source: Asian Infrastructure Investment Bank, Financial Review. James Fernyhough, 24 Nov., 2019) Contact: Asian Infrastructure Investment Bank, www.aiib.org

More Low-Carbon Energy News Asian Infrastructure Investment Bank ,  


Singapore Launching $2Bn Green Finance Hub Programme (Int'l.)
Monetary Authority of Singapore
Date: 2019-11-13
In Singapore, the Monetary Authority of Singapore reports it plans to create a $2 billion Green Investments finance programme intended to establish the country as a global green financing hub.

The Green Investment Programme will direct funds to asset managers who will in turn invest the funds in public market firms focused on introducing environmental and sustainability considerations into investments in renewable and bioenergy technology, grid infrastructure, battery storage, green buildings, energy efficiency and optimizing energy conservation and consumption. (Source: Monetary Authority of Singapore, International Finance, 12 Nov., 2019) Contact: Monetary Authority of Singapore, +65 6225 5577, +65 6229-9229 -- fax, (212) 809 1900 -- US Office, www.mas.gov.sg

More Low-Carbon Energy News Green Finance,  Green Bond,  Renewable Energy,  Energy Efficiency,  Climate Change,  


Amundi, AIIB Partnering on Cimate Bond EM Fund (Ind. Report)
Amundi
Date: 2019-09-11
Paris-based Amundi Asset Management reports it is partnering with the Asian Infrastructure Investment Bank (AIIB) to launch a $500 million Asia Climate Bond Portfolio to launch in January, 2020.

The strategy aims to accelerate climate action in the bank's members and address the underdevelopment of the climate bond market. The fund will invest in labelled green bonds and unlabelled climate bonds and will engage with issuing companies to help them transition their business models to increase climate resilience and green leadership.

Amundi is an asset management company with €1,425 billion of assets under management at the end of 2018, and is is the largest asset manager in Europe. (Source: Amundi, City Wire, 10 Sept., 2019)Contact: Amundi International, www.amundi.com; Asian Infrastructure Investment Bank, www.aiib.org

More Low-Carbon Energy News Green Bond,  Climate Bond,  Carbon Emissions,  Climate Change,  


IFC's 1st Canadian Green Bond Raises $750Mn (Ind. Report)
International Finance Corporation
Date: 2019-09-09
The World Bank's International Finance Corporation (IFC) is reporting issuance of its first Canadian dollar green bond raised $750 million (Cdn) ($569 million US) for climate-smart business.

The proceeds of the five-year green bond will finance IFC low-carbon investments in green projects, including renewable energy, green buildings, sustainable forestry, and energy efficiency. Approximately half of the investments were from Canadian interests Canadian, followed by Asian (26 pct), EMEA (16 pct) and the Americas (8 pct). IFC issued it firs Green Bond its first issuance in 2010. (Source: IFC, Saur Energy, 7 Sept., 2019) Contact: World Bank International Finance Corporation, www.ifc.org

More Low-Carbon Energy News International Finance Corporation,  Green Bond,  Low-Carbon Energy,  


Aussie Green Bond Issuance Tops $15 billion (Int'l. Report)
Climate Bonds Initiative.
Date: 2019-09-04
The Climate Bonds Initiative, an international, investor-focused not-for-profit organisation working solely on mobilizing the $100 trillion bond market for climate change solutions, reports the release of its Green Infrastructure Investment Opportunities Australia 2019 (GIIO) report, as well as the Green Finance State of the Market Australia (SoTM) 2019 report. The report notes Australia issued $15.6 billion in green bonds as of the end of June, placing Australia third in the Asia-Pacific region behind China (US$91.5 billion) and Japan (US$12.4 billion) and ahead of South Korea at (US$6.7 billion) and Indonesia with US$4 billion.

Australia is tenth overall in cumulative global green bond rankings as of 30 June 2019. Total domestic issuance to date includes 35 deals -- some comprising multiple tranches -- from 15 issuers. Australia’s annual green bond issuance in the 2018 calendar year nearly doubled, from $3.3 billion in 2017 to $6 billion. (Source: Climate Bonds Initiative, Sustainability Report, Pro Bono News, 3 Sept., 2019) Contact: Climate Bonds Initiative, Sean Kidney, CEO, www.climatebonds.net

More Low-Carbon Energy News Green Bonds,  Low Carbon,  


IFC, Bank Windhoek Introduce Green Building Software (Int'l.)
International Finance Corporation
Date: 2019-08-21
In Namibia, Bank Windhoek and the World Bank's International Finance Corporation (IFC) are reporting the joint introduction free to use Excellence in Design for Greater Efficiencies (EDGE) green building certification system for emerging markets.

Developed and created by the IFC, EDGE is a measurable way for builders to optimize their designs, leading to a more investment-worthy and marketable product. EDGE helps project design teams and owners identify and assess the most cost-effective ways to incorporate energy and water saving options into nuilding projects.

In December 2018, Bank Winhoek and IFC collaborated to develop the Bank's Green Bond Framework for the Green Bond. The Bank obtained additional sources of funding for its green lending activities by raising funds in the debt market through a local Green Bond issuance, of which the proceeds will be used solely to finance eligible green projects and assets throughout Namibia. (Source: IFC, Bank Windhoek, New Era, 20 Aug., 2019) Contact: Bank Windhoek, www.bankwindhoek.com.na; World Bank International Finance Corporation, www.ifc.org

More Low-Carbon Energy News International Finance Corporation ,  


EIB Loans to Fund 21 Spanish Wind Farms (Int'l., Funding)
European Investment Bank
Date: 2019-08-09
The European Investment Bank (EIB) reports it will provide €385 million in loan funding for Alfanar Group's construction of 21 wind farms totaling 547 MW in Andalusia, Asturias, Castilla-La Mancha, Castilla Leon, Galicia and Navarra in Spain.

The EIB, the world's first and largest issuer of green bonds, is the long-term lending institution of the European Union owned by its 28 Member States. The EIB aims to dedicate at least 25 pct of its investments to climate change mitigation and adaptation, supporting low-carbon growth with climate resilience. In 2018, and for the ninth consecutive year, the EIB exceeded its climate finance target, providing €16.2 billion to promote climate action. (Source: European Commission, PR, 8 Aug., 2019) Contact: European Commission, www.eceuropa.eu

More Low-Carbon Energy News European Investment Bank ,  Wind,  


Costa Rica Borrows $35Mn for Green Energy Projects (Funding)
World Bank Group International Finance Corporation
Date: 2019-07-24
The World Bank Group International Finance Corporation (IFC) is reporting a S$ 35 million loan to support and incentivise the issuance of a green bond by Davivienda Costa Rica, the third largest private bank in Costa Rica. The loan will contribute to the funding sustainable buildings, energy efficiency and small-scale renewable energy generation and bioenergy projects under the "green lending standards" as set out by the Zurich-headquartered International Capital Markets Association. (Source: World Bank Group International Finance Corporation, July, 2019) Contact: World Bank Group, www.worldbank.org; World Bank Group International Finance Corporation, www.ifc.org; International Capital Markets Association, www.icmagroup.org

More Low-Carbon Energy News World Bank,  Green Energy,  


Hong Kong "Green Bond" Looking to Raise $1Bn (Int'l Report)
Hong Kong
Date: 2019-05-22
Reuters is reporting the former British colony of Hong Kong is looking to raise $500 million to $1 billion through a five-year "green bond" issuance that will help establish Hong Kong as a "green finance" center for investment in "environmentally friendly" projects.

The bond is the first to be issued under Hong Kong's HK$100 billion ($12.74 billion) green bond program to fund projects around clean transportation, air quality improvement and green buildings.

"Green bond" issuance worldwide to date this year stands at $41.3 billion, $12 billion of which was raised in Asia. (Source: Reuters, Various Media, May, 2019)

More Low-Carbon Energy News Green Bond,  


New Energy Risk Backs $260Mn Plastics-to-Fuel Plant (Ind. Report)
RES Polyflow,Brightmark Energy,
Date: 2019-04-29
Menlo Park, California-headquartered New Energy Risk, the leader in customized insurance solutions for renewable technology projects, reports it has provided RES Polyflow, a leading plastics-to-fuel technology company, with a performance insurance program for its ground-breaking Ashley, Indiana plant -- the country's first commercial-scale plastics-to-fuel project.

When fully operational, the facility will convert 100,000 tpy of plastic into 18 million gpy of fuel and 6 million gpy of wax. By working with New Energy Risk (NER), RES Polyflow has reduced the overall cost of project capital, increased the certainty of execution, and made the bond offering more attractive to investors.

RES Polyflow and its San Francisco-based parent development company, Brightmark Energy, raised an aggregate amount of $260 million, including $185 million in Indiana green bonds, underwritten by Goldman Sachs & Co. To streamline the financing, the companies approached NER, an affiliate of the global reinsurance group AXA XL, a division of AXA, to design a custom performance insurance policy that would mitigate technology risk for financiers interested in investing in this revolutionary project and the company's process that can convert 500,000 tpy of waste into 50 million gpy of biofuel .

The Indiana plant superheats and then converts plastic into ultra-low sulfur diesel and naphtha blend stocks, as well as commercial grade wax. (Source: AXA XL, PR, 23 April, 2019) Contact: AXA AL, www.axaxl.com; New Energy Risk, (650) 204-4279, contact@newenergyrisk.com, www.newenergyrisk.com; Brightmark Energy, Bob Powell, CEO, (415) 689-8395, info@brightmarkenergy.com, www.brightmarkenergy.com; RES Polyflow, www,respolyflow.com

More Low-Carbon Energy News Brightmark Energy,  RES Polyflow,  Plastic-to-Fuel,  


Communications Giant Aims for 2035 Carbon Neutrality (Ind. Report)
Verizon
Date: 2019-04-26
NYC-headquartered telecommunications giant Verizon Communications Inc. is touting it plan to achieve carbon neutrality by 2035 through a program of direct emissions reduction, the purchase of renewable energy, carbon offsets and other measures. For 2025, Verizon aims for a 50 pct carbon intensity reduction.

The company aims to neutralise its Scope 1 and Scope 2 emissions -- all direct sources of emissions owned or controlled by Verizon, the main ones being fuel to power fleet, heat buildings and power back-up generators. Scope 2 concerns indirect emissions sources generated off-site but purchased by Verizon.

As previously reported, in February, Verizon launched a $1-billion green bond to fund both new and existing environmentally friendly investments. (Source: Verizon, Renewables, 24 April, 2019) Contact: Verizon, Jim Gowen, Chief Sustainability Officer, www.linkedin.com/in/james-gowen-6b4619143, www.verizon.com

More Low-Carbon Energy News Verizon,  Carbon Emissions,  Carbon Neutral,  


Royal Bank of Canada Floats First "Green" Bond (Ind. Report)
Royal Bank of Canada
Date: 2019-04-26
In Toronto, the Royal Bank of Canada (RBC) reports the launch of a 5-year "green" bond offering to raise €500 million ($557 million US) to back a portfolio of renewable energy and green building projects. Clean transportation, sustainable water and wastewater management, energy efficiency, pollution prevention and control projects may also be added to the list of possible projects.

RBC is Canada's second-largest bank with $1074.28 billion in assets. (Source: RBC, Renewables, 25 April, 2019)

More Low-Carbon Energy News Royal Bank of Canada,  Renewable Energy,  Green Bond,  


$1Bn Green Bond to Fund Verizon Energy Efficiency (Ind. Report)
Verizon
Date: 2019-02-13
NYC-headquartered telecommunications giant Verizon Communications Inc. is reporting the issuance of $1 billion in green bonds , the proceeds of which will fund various sustainability initiatives including green buildings, energy efficiency, and other initiatives over a ten year period.

Verizon recently implemented several strategies to increase energy efficiency in its larger wireless core data centers, including uninterruptible power supplies, high-efficiency motors, and whole-building control systems. The move is in keeping with the company's goal of sourcing 50 pct -- about 2,000 MW -- of its electric power usage from renewable generation by 2025. (Source: Verizon, Fierce Telecom, 11 Feb., 2019) Contact: Verizon, Jim Gowen, Chief Sustainability Officer, www.linkedin.com/in/james-gowen-6b4619143, www.verizon.com

More Low-Carbon Energy News Verizon,  Green Bond,  Energy Efficiency,  


Green Bond Raises $410Mn for Asian Low Carbon Projects (Int'l)
AC Energy,Ayala
Date: 2019-02-11
In the Philippines, AC Energy, the energy platform of one of the largest conglomerates located in the Philippines, Ayala Corporation, reports it raised $410 million (US) in its first Climate Bond Initiative listed on the Singapore Exchange. The International Finance Corporation (IFC), a member of the World Bank Group, provided an anchor investment of $75 million to complete the public placement of the bonds. AC Energy added a private placement of $110 million in climate bonds for 10 years and the Asian Development Bank (ADB) invested $20 million in the transaction, which is paying a coupon of 5.25 pct.

Proceeds from the bond offering are earmarked for AC Energy's low-carbon energy projects in the Asia-Pacific region. The bonds received pre-issuance certification as climate bonds under the Climate Bonds Standard (CBS). (Source: AC Energy, Asset ESG Forum, 10 Feb., 2019) Contact: AC Energy , Eric Francia, Pres., CEO, www.acenergy.com.ph; Ayala, www.ayala.com.ph/ac-energy

More Low-Carbon Energy News Ayala,  AC Energy,  Climate Change,  Green Bond,  Renewable Energy,  


$1Bn Green Bond to Fund Verizon Energy Efficiency, Green Building Initiatives (Ind. Report)
Verizon
Date: 2019-02-11
Verizon is reporting the issuance of $1 billion in green bonds, the proceeds from which will fund various sustainability initiatives including renewable energy, green buildings, energy efficiency, and other initiatives over a ten year period.

Additionally, the company recently implemented strategies to increase energy efficiency in its larger wireless core data centers, including uninterruptible power supplies, high-efficiency motors, and whole-building control systems. The move is in keeping with the company's recently announced goal sourcing 50 pct -- about 2,000 MW -- of its electric power consumption from renewable generation by 2025. (Source: Verizon, Fierce Telecom, 11 Feb., 2019) Contact: Verizon, Jim Gowen, Chief Sustainability Officer, www.verizon.com/about/our-company/verizon-corporate-headquarters

More Low-Carbon Energy News Green Bond,  Energy Efficiency,  Verizon,  Green Building,  


Citigroup Green Bond to Support Renewables Projects (Ind. Report)
Citigroup
Date: 2019-01-30
US banking giant Citigroup Inc is touting its initial €1 billion ($1.14 billion) "green" bond offering aimed at financing renewable energy and other environmental projects including energy efficiency, green buildings, sustainable transportation, water quality and conservation.

The projects will be supported as part of Citi's 2015, $100-billion (€87.6 billion) environmental finance goal which aims to lend and facilitate $100 billion over 10 years towards environmental activities leading to a low-carbon economy.

Citigroup owns or leases over 57 million square feet of real estate in over 7,900 properties including its new NYC global headquarters currently under construction to LEED Platinum energy efficiency certification standards. (Source: Citigroup, Renewables, 29 Jan., 2019) Contact: Citigroup Inc., www.citigroup.com

More Low-Carbon Energy News Citigroup,  Energy Efficiency,  Renewable Energy,  Green Bond,  


Manila's Rizal Bank Announces "Green" Finance Framework (Int'l)
Rizal Commercial Banking Corp
Date: 2019-01-16
The Manila-based Rizal Commercial Banking Corp, the Philippine's tenth largest bank by assets, reports it has established a finance framework for "green" bonds and loans focus on renewable energy, green buildings, clean transport, pollution prevention and energy efficiency.

www.rcbc.com

More Low-Carbon Energy News Green Bond,  Energy Efficiency,  Renewable Energy,  


Tata Green Bond Raises $25.9Mn for Renewables Projects (Int'l)
Tata Cleantech
Date: 2019-01-09
India's Tata Cleantech Capital Ltd, a Tata Capital and the International Finance Corp (IFC JV), reports its first Green Bond offering has raised $25.9 million (€22.7 million). The funds from the five-year securities were raised from FMO, and the Netherlands Development Finance Company, Tata Cleantech will go for eligible green energy projects, renewables in particular, that contribute to the environmental sustainability.

Tata Cleantech operates on the clean technology market by extending financing and providing advisory services for renewable energy, energy efficiency and water management projects and has participated in the funding of over 5.2 GW of renewables projects, according to the company website. (Source: Tata Cleantech Capital, Renewables, 7 Jan., 2019) Contact: Tata CLeantech Capital, www.tatacleantechcapital.in

More Low-Carbon Energy News Tata Cleantech,  Green Bond,  Renewable Energy ,  


WBCSD Launches New Energy Solutions Project (Int'l Report)
World Business Council for Sustainable Development
Date: 2018-12-17
The Swiss-headquartered World Business Council for Sustainable Development (WBCSD) is reporting the December 10th launch of its newest project, New Energy Solutions.

By facilitating cross-sectoral collaboration, the project aims to scale up pre-commercial and/or proven low-carbon technologies that are being deployed too slowly across the transportation and other energy sectors.

The New Energy Solutions project aims to help commercial and industrial companies from all sectors make headway with proven technologies and low-carbon fuels, the uptake of green bonds for renewable fuels and projects, corporate renewable power purchase agreements, and low-carbon microgrids for commercial and industrial customers.

Together, project members are identifying and implementing technologies, fuels and solutions that help companies transition to low-carbon energy sources in line with the Paris Agreement. (Source: World Business Council for Sustainable Development, Climate Home, 10 Dec., 2018) Contact: WBCSD, Maria Mendiluce, Managing Director, www.wbcsd.org

More Low-Carbon Energy News World Business Council for Sustainable Development,  


Duke Carolinas Completes $1Bn Green Bond Issuance (Ind. Report)
Duke Energy Carolinas
Date: 2018-11-12
Charlotte-headquartered Duke Energy Carolinas is reporting completion of an historic $1 billion Green Bond issuance to finance renewable projects in North and South Carolina. Duke's green bonds have a weighted average coupon of 3.74 pct with between three and 10-year maturities, according to the Duke release.

Duke is retiring its coal-fired plants, increasing nuclear generation capacity, and has added close to 650 MW of built or purchased solar energy and plans to add another 1,800 MW of new-build and purchased solar capacity over the next five years. (Source: Duke Carolinas, Electric Light & Power, Charlotte Business Journal, 9 Nov., 2018) Contact: Duke Energy, David Fountain, North Carolina Pres., Chris Fallon, VP Renewables, Steve Young, Exec. VP CFO, www.duke-energy.com

More Low-Carbon Energy News Duke Energy Carolinas,  Renewable Energy,  Energy Storage,  


IFC Komodo Green Bond Raises $134Mn for Climate Investments (Int'l)
International Finance Corporation
Date: 2018-10-10
International Finance Corporation (IFC), a member of the World Bank Group, reports issuance of its inaugural Indonesian rupiah Komodo Green Bond which raised Rp 2 trillion (US$134 million) to support climate friendly Indonesian projects to combat climate change.

The five-year green bond, which will be listed on both the London Stock Exchange and the Singapore Stock Exchange, will support the local-currency market in Indonesia, funding the first-ever green bond issued in Indonesia by an IFC client, Bank OCBC NISP. The proceeds will finance underlying infrastructure and climate-related projects.

According to the IFC's just released Green Bond Impact Report, IFC issued 32 green bonds totaling $1.8 billion in the fiscal year that ended June 30. (Source: Jakarta Post, IFC, 8 Oct., 2018) Contact: IFC, Nena Stoiljkovic, VP Asia and the Pacific, (202) 473-1000, www.ifc.org

More Low-Carbon Energy News International Finance Corporation,  Climate Change,  Green Bond,  


ADB Green Bonds to Fund Climate Change Mitigation Projects (Int'l)
Asian Development Bank
Date: 2018-09-24
Further to our May 4th coverage, the Manila-headquartered Asian Development Bank (ADB) reports it has raised another $750 million in 10-year green bonds to help finance climate change mitigation and adaptation projects.

Forty-six pct of the issue was distributed in Europe, Middle East and Africa and 28 pct in the Americas and 26 pct in Asia. Thirty-one pct of the issuance was purchased by banks, 25 pct by insurance companies and pension funds, 24 pct by central banks and official institutions, and 20 pct by fund managers.

ADB issued its first US dollar-denominated green bond in 2015. ADB's financing of climate mitigation and adaptation reached a record $4.5 billion in 2017 and the institution is now in position to achieve its US$6 billion annual climate financing target by 2020. Of the total $6 billion, $4 billion will be dedicated to mitigation through scaling up support for renewable energy, energy efficiency, sustainable transport and building smart cities, while $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture and better preparation for climate-related disasters. ADB plans to raise around $23 billion from the capital markets in 2018. (Source: ADB, The Asset ESGForum, 23 Sept., 2018) Contact: Asian Development Bank, +63 2 632 4444, www.adb.org

More Low-Carbon Energy News Climate Change Mitigation,  Green Bonds,  Asian Development Bank,  


Ireland Launching Inaugural Green Bond Issue (Int'l Report)
Ireland National Treasury Management Agency
Date: 2018-09-14
In Dublin, Ireland's National Treasury Management Agency reports it will launch its first green bond issuance in the coming months, and to that end is meeting with potential investors. The bond will be issued under the recently approved Irish Sovereign Green Bond framework.

Funds from the placement will be applied to green projects addressing climate change mitigation and adaptation, water and natural resources depletion and the reduction of air pollution. (Source: Ireland National Treasury Management Agency, Renewables, Sept., 2018) Contact: Ireland National Treasury Management Agency, Frank O'connor, Director of Funding and Debt Management, +353 1 238 4000, info@ntma.ie, www.ntma.ie

More Low-Carbon Energy News Green Bond,  


Cal. Pledges "Green" Financing in Climate Change Fight (Ind. Report)
Green Bond, Climate Change
Date: 2018-08-10
In Sacramento, California Treasurer John Chiang reports his office has signed on to the Green Bond Pledge committing the Golden State to fight climate change through a strategy using green financing. The Green Bond Pledge is a declaration with broad and far-reaching impact, under which states and cities nationwide are being urged to commit to a strategy that will finance infrastructure and capital projects that meet the challenges of climate change with "green bonds," or green financing.

Green Bond pledge adherents agree that climate change poses an existential threat and that the rapid growth of a green bonds market will not only meet the unique challenges the world faces, but will do so while making communities more economically competitive, prosperous, and productive.

Green bonds may be sold by governments, as well as by private entities, to finance projects that have positive environmental or climate attributes. The projects can range from clean transportation to renewable energy.

The green bond market started in 2007 with bonds issued by the World Bank and the European Investment Bank. By 2017, both California and New York had issued more than $4 billion in bonds to finance such things as clean water projects, green schools, mass transit, land preservation, and green housing. The state is now looking to build on that start and help grow a much more robust market for green bond financing.

Download a copy of the Green Bonds Pledge and other details HERE. (Source: California Treasurers Office, Lake County News, Aug., 2018) Contact: California Treasurers Office, (916) 653-2995, www.treasurer.ca.gov

More Low-Carbon Energy News Green Bond,  Climate Change,  


Argentine Banco Galicia Offers Energy Efficiency Funding (Int'l)
Banco Galicia,International Finance Corporation
Date: 2018-05-07
Telam, the Argentin national news agency is reporting Argentine banking giant Banco Galicia is offering $100 million in financing for renewables, energy efficiency and sustainable construction projects. The loans are for up to seven years and fixed rates of between 6 pct and 8 pct.

Funds for this green energy financing were raised through a recent Banco Galicia green bond issuance that was 100 pct subscribed to by the International Finance Corporation (IFC). (Source: Telam, Banco Galicia, Renewables, 7 May, 2018) Contact: Banco Galicia, www.bancogalicia.com; IFC World Bank, (202) 473-1000, www.ifc.org

More Low-Carbon Energy News Energy Efficiency Funding,  Energy Efficiency,  Renewable Energy,  International Finance Corporation,  


DTE Green Bonds to Support Low-Carbon Projects (Ind. Report)
DTE Energy
Date: 2018-05-02
Jackson-based DTE Energy, Michigan's largest utility, is reporting its inaugural offering of $525 million in green bonds to finance low-carbon, clean energy projects. DTE is the nation's fifth investment-grade energy company -- and the first company in Michigan -- to sell green bonds.

With a maturity of 30 years at an annual fixed coupon of 4.05 pct, DTE green bonds will be used to help fund the development and construction of solar arrays and wind farms, including the transmission infrastructure to support renewable energy facilities as well as strengthen energy efficiency programs to help Michigan residents and businesses save energy and reduce bills.

DTE Energy's portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. (Source: DTE Energy, PR, 1 May, 2018) Contact: DTE Energy, Irene Dimitry, VP Business Planning & Development, David Harwood, Renewable Energy Dir., www2.dteenergy.com

More Low-Carbon Energy News Green Bond,  DTE Energy,  Low-Carbon Energy,  


London Plans Low-Carbon Products Center Ahead of Brexit (Int'l)

Date: 2018-03-30
In the UK, Britain's and a world financial hub, the City of London reports it will work with the China Green Finance Committee to develop financial products including green credit, green bonds, green funds and low-carbon finance to help fund a number of projects under China's "Belt and Road Initiative" aimed at increasing trade and infrastructure links to central Asia, Europe and beyond.

The move comes as the UK and London's financial district tries to increase its business links with China and expand overseas markets ahead of Britain leaving the European Union. (Source: South China Morning Post, Various Others, Mar., 2018)

More Low-Carbon Energy News Green Energy,  Low Carbon,  


Growthpoint Announces $94Mn Green Bonds Issuance (Int'l)
GrowthPoint
Date: 2018-03-14
In the Land Down Under, Victoria-headquartered Growthpoint Properties is reporting a $94 million Green Bonds issuance that will be used to fund green buildings and green initiatives to help address climate change in South Africa. The Green Bonds form part of Growthpoint's R20 billion Domestic Medium Term Note (DMTN) Programme and are listed on the JSE market.

Among the investors in the new Growthpoint Green Bonds is the African Local Currency Bond Fund (ALCB Fund), an initiative of KfW Development Bank and the German Government backed by additional investors. It aims to promote the development of African capital markets by acting as an anchor investor in primary bond issuance. It has invested around $70 million since inception in 13 countries.

Growthpoint is a leader in green building and climate change mitigation. Over 86 of its properties are green-certified buildings. The proceeds of the bonds will be used exclusively to finance or refinance Growthpoint's new and existing sustainable green properties and projects that reduce environmental impact.(Source: GrowthPoint, eProperet News, 12 Mar., 2018) Contact: GrowthPoint, www.growthpoint.com.au

More Low-Carbon Energy News Green Bonds,  Climate Change,  


Ontario's 4th Green Bond Sale Raises $1bn (Cdn) (Ind. Report)
Province of Ontario
Date: 2018-02-16
Reporting from Queens Park, the Canadian province of Ontario notes it $1 billion (Cdn)($801 million US) in its fourth green bond sale. To date, the province's 4 green bonds have raised a total of $3.05 billion (Cdn).

Green bond proceed are use to support initiatives and projects that will cut the province's carbon footprint and fight climate change. (Source: Province of Ontario, Various Media, Feb., 2018)

More Low-Carbon Energy News Green Bond,  Carbon Emissions,  


Green Bond to Fund Engie Renewables Expansion (Ind. Report)
Engie
Date: 2018-01-15
French utility Engie reports it has issued a green hybrid bond to fund renewable energy or energy efficiency projects, as well as related R&D projects. The €1 billion bond, with an interest rate of 1.375 pct, cannot be called until April 2023, the utility stated. As a subordinated perpetual bond, it would continually pay interest until redeemed. It is intended to replace two other bonds: one worth €600 million and another worth €300 million. The bond has been rated Baa1, BBB and BBB+ from Moody's, S&P and Fitch respectively.

Engie, which has operating wind assets and projects under development in more than 20 countries, also owns and develops onshore wind and solar projects worldwide.totaling 1.77GW of installed capacity, which it aims to grow to around 3GW by 2021. (Source: Engie, Windpower, 11 Jan., 2018) Contact: Engie, www.engie.com

More Low-Carbon Energy News Engie,  Renewable Energy,  Green Bond,  


EU OK's GE, Mirova Spanish Wind Farms Acquisition (Int'l, M&A)
Mirova-Eurofideme
Date: 2018-01-10
The European Commission (EC) reports it has approved France's Mirova-Eurofideme 3 venture capital fund and US conglomerate General Electric's acquisition and joint control of Idesamgar SL and Idesamgar SL 1, which will encompass nine wind farm projects in Spain.

Mirova-Eurofideme 3 invests in renewable energies, sustainable equities and green bonds for institutional players. General Electric is a global company active in the investment market in the energy sector, and in the production and maintenance of hydroelectric, wind and solar power generators.

In approving the acquisition, the EC concluded that the proposed concentration did not raise competition concerns because of its limited impact on the market. (Source: Mirova-Eurofideme, GE, New Europe Online, 8 Jan., 2018) Contact: Mirova-Eurofideme, www.mirova.com; GE Europe, Yves Rannous, CEO, GE Renewable Energy , +32 2 235 6855, www.ge.com/europe

More Low-Carbon Energy News Wind,  GE Renewables,  


EIB, Yes Bank Co-financing $400Mn Indian Renewables Projects (Int'l)
European Investment Bank,Yes Bank
Date: 2018-01-03
The European Investment Bank (EIB) reports it is partnering with Yes Bank, a private Indian bank, to co-finance $400 million in commercial-scale solar and wind energy projects in the Indian states of Karnataka, Telangana, Maharashtra, and Rajasthan.

Yes Bank was the first bank in India to launch a green bond back in February 2015. The bank has raised at least $250 million through three green bond issues in collaboration with International Finance Corporation and FMO, the development bank of Netherlands. (Source: Yes Bank, EIB, CleanTechnica, 1 Jan., 2017) Contact: European Investment Bank, www.eib.org; YES Bank, Rana Kapoor, CEO, www.yesbank.in

More Low-Carbon Energy News Yes Bank,  European Investment Bank,  Wind,  Solar,  India Renewable Energy,  Wind,  Solar,  


Philippines BDO Issues $150Mn Green Bond (Ind. Report)
World Bank IFC
Date: 2017-12-11
The Philippines' largest lender BDO Unibank has raised $150 million from a pioneering offshore "green" bond issuance, boosting private sector funding for climate change mitigating initiatives. The funds will be used exclusively to finance climate-smart projects including renewable energy, green buildings, and energy-efficient equipment.

The green bond is seen to provide an alternative source of long-term green finance in the country and contribute to the Philippines' target of reducing carbon emissions by 70 pct by 2030 relative to its Business As Usual scenario. The financing deal is expected to help save 93,000 tpy of CO2 emissions per year by 2022, according tothe bank's website.

The World Bank International Finance Corp. (IFC) is the sole investor in the bond. Since 2005, IFC has invested $18.3 billion in long-term financing from its own account, and mobilized another $11 billion through partnerships with investors for climate-related projects. Overall, IFC has issued $7.25 billion in green bonds in 12 currencies. (Source: BDO, Philippine Daily Inquirerer, 8 Dec., 2017)Contact: BDO, www.bdo.com.ph; World Bank International Finance Corp, https://finances.worldbank.org/ifc

More Low-Carbon Energy News Green Bond,  Climate Change Mitigation,  Climate Change,  World Bank IFC,  


Renovate America Completes 12th PACE Securitization (Ind. Report)
Renovate America,
Date: 2017-12-11
Residential energy efficiency finance provider Renovate America is reporting the closing of its 12th securitization of HERO Property Assessed Clean Energy (PACE) green bonds. The securitization, which included $267,330,000 of class A1 and A2 notes, and $34,000,000 of class B notes, was well-subscribed, with several new asset management firms joining the ranks of Renovate America's investors, according to the release.

The projects backed by the bonds in HERO Funding 2017-3 are expected to lower homeowners' water and energy bills by more than $289 million over the useful lifetime of the products installed.

The HERO bond platform is the largest platform that solely produces green ABS bonds, with each of the company's 12 securitizations having been designated as "green" by Sustainalytics, an investment research firm specialized in environmental, social and governance (ESG) research and analysis. In 2017, Renovate America issued $775 million in PACE bonds across three deals -- 70 pct more in broadly syndicated ABS bonds than the next-largest PACE provider, according to the release. (Source: Renovate America, PR, 8 Dec., 20170 Contact: Renovate America, Greg Frost, Nicole Montecalvo, Investor Relations, (619) 568-6747, gfrost@renovateamerica,com, www.renovateamerica.com

More Low-Carbon Energy News Renovate America,  PACE,  Energy Efficiency,  


Green Bonds Top $100 billion Benchmark (Ind. Report)
Climate Bonds Initiative
Date: 2017-11-27
Further to our May 1st coverage, the latest Climate Bonds Initiative analysis has shown that green bond issuances topped $101.4 billion on 16 November, 2017, when the China Development Bank issued a $1.5 billion green bond.

The Commercial Bank of China (ICBC) issued its inaugural climate bond of $2.1 billion this October, to be invested in renewable energy, low carbon transportation, energy efficiency and sustainable water management.

According to Climate Bonds Initiative, the top countries for 2017 are China, with more than $16 billion green bonds issued, France with $15 billion, and the US with approximately $14 billion in green bonds. (Source: Climate Bonds Initiative, UN Climate Action, 24 Nov., 2017) Contact: Climate Bonds Initiative, www.climatebonds.net

More Low-Carbon Energy News Climate Bonds Initiative,  Green Bonds,  


Fiji Issues Green Bond for Climate Mitigation (int'l Report)
Green Bonds
Date: 2017-10-20
In Suva, the government of Fiji reports it has issued a sovereign $50 million green bond to fund climate change mitigation efforts and to achieve 100 pct renewable energy and reduce its CO2 emissions in the energy sector by 30 pct by 2030. The World Bank, the International Finance Corporation, and the Australian government through a Capital Markets Development Project helped Fiji with the issuance.

The World Bank issued the first green bond in 2008. The island nation of Fiji the first developing country to issue a green bond. The Fiji bonds issued between 1 November 2017 – May 2018, will mature between 1 November 2022 and 1 November 2030, with interest rates of 4 pct and 6.3 pct. (Source: Matangi, Tonga Online, Radio New Zealand, 18 Oct., 2017)Contact: Fiji Government Online Portal, www.fiji.gov.fj

More Low-Carbon Energy News Green Bonds,  Climate Change Mitigation,  Renewable Energy,  World Bank,  


Green Bond Issuance on the Rise, says Moody's (Ind. Report)
Moody's
Date: 2017-08-09
Moody's, the rating agency, is reporting that $32.2 billion in green bonds representing 116 transactions from a total of 85 issuers were issued in Q2 of this year, although average transaction size decreased significantly to $278 million from $360 million in the previous quarter.

Just over 20 pct of bonds came from China, still the largest financier of such bonds, with $6.8 billion committed during Q2, followed by $5.8 billion in the US, $3.6 billion in the Netherlands, $3.2 billion in Germany and $2.9 billion of new deals from supranational issuers. This takes total green bond issuance to around $61.7 billion for Q1 and Q@ 2017, a 66 pct increase on the same period in 2016. It also suggests the market may exceed $120 billion by year end.

Most funds raised continue to be directed towards renewables and energy efficiency projects, which make up 27 pct and 21 pct of proceeds, respectively. This is in fact down on previous years, with Moody’s ascribing the reduction to the introduction of green building projects as a separate category from energy efficiency. (Source: Moodys, Renewables News, 3 Aug., 2017) Contact: Moody's, www.moodys.com

More Low-Carbon Energy News Green Bonds,  


ADB Green Bonds Spurring Climate Change Funding (Int'l)
Asian Development Bank
Date: 2017-08-04
In Manila, the Asian Development Bank (ADB) reports the sale of $1.25 billion in green bonds in a dual-tranche issuance to support its low-carbon and climate resilient projects. With the $1.25 billion for climate change support, ADB expects a 30 pct growth in overall financing.

The issuance was split into a $750 million , five-year offering that matures on Aug. 10, 2022, and a $500 million ten-year bond offering that matures on Aug. 10, 2027. Both bond issues were widely distributed geographically with 52 pct of the total issuance going to banks, 25 pct to central banks and official institutions, and 23 pct to fund managers.

The transactions were lead-managed by Bank of America Merrill Lynch, Credit Agricole CIB, and J.P. Morgan. A syndicate group was also formed consisting of Citi, HSBC, Morgan Stanley, and TD Securities, according to ADB. ADB aims to raise between $27 billion to $30 billion from capital markets in 2017. (Source: ADB, GMA, Others, Aug., 2017) Contact: Asian Development Bank, Michael Trainor, Energy Specialist, www.adb.org

More Low-Carbon Energy News ADB,  Green Bonds,  Asian Development Bank,  Green Bond,  Climate Change Funding,  


CEE, GCL Ink $62.3Mn, 100 MW Chinese Solar Deal (Int'l)
China Energy Engineering
Date: 2017-07-05
Beijing-based China Energy Engineering (CEE) subsidiary CEE Tianjin repoprts it will construct a 100 MW solar project for GCL New Energy in eastern China. The PV array will cost approximately $62.3 million and be completed within the next four months, according to a statement to the Hong Kong stock exchange.

In July 2016, CEE Zhejiang signed a deal to install 20 MW of solar capacity for GCL New Energy in Suzhou, Anhui province. Around the same time, CEE Tianjin agreed to build the second 36.16 MW phase of a 100 MW project that GCL New Energy was developing in Hebei province. CEE Tianjin followed with an additional agreement to complete the third 42.98 MW phase of the Zhangjiakou project. In a separate announcement, Suzhou GCL revealed plans to transfer shares of Jinhu Zhenhui Photovoltaic and Shandong Wanhai Solar Power to Xi'an Zhongmin GCL New Energy, a GCL New Energy venture with Zhongmin New Energy (Shanghai) Investment. The agreement is related to 130 MW of solar capacity in China. By the end of 2016, GCL New Energy had roughly 1 GW of solar capacity under construction in China. The company secured approval to issue $254 million of green bonds this past March and expects to complete 1.5 GW to 2 GW of solar capacity before the year end. (Source: China Energy Engineering, PV Mag., 3 July, 2017) Contact: China Energy Engineering Group Co.Ltd, en.ceec.net.cn

More Low-Carbon Energy News China Energy Engineering,  Solar,  China Solar,  


Singapore Developer to Cut CO2 Emissions 38 pct by 2030 (Int'l)
CDL
Date: 2017-05-17
In its Integrated Sustainability Report 2017, Singapore-headquartered City Developments Ltd (CDL) has pledged to cut its carbon emissions by 38 pct from 2007 levels. The developer also plans to establish a S$2.25 million research and development partnership with the National University (NUS) School of Design and Environment. Through the NUS-CDL Smart Green Home and NUS-CDL Tropical Technologies Lab, CDL will have a "test-bed" for future developments in smart and green building technologies.

In 2016, CDL achieved a 16 pct reduction in carbon emissions intensity from 2007 levels, and realized a 25-pct reduction in energy consumption from 2007. Over the past five years, more than S$16 million in savings were attained as a result of energy-efficient retrofitting and initiatives for eight office buildings.

Additionally, last month CDL launched the first green bond by a Singapore company, through its subsidiary CDL Properties. The bond raised S$100 million primarily from financial institutions and fund managers. (Source: CDL, 16 May, 2017) Contact: CDL, Grant Kelley, CEO, +65 6877 1818, www.cdl.com.sg

More Low-Carbon Energy News Carbon Emissions,  Carbon Emissions,  


Green Bonds Gaining Market Traction (Ind. Report)
Climate Bonds Initiative
Date: 2017-05-01
According to the Wall Street Journal, $81 billion in green bonds were issued in 2016, and that number is expected to nearly double to $150 billion this year. This is rapid growth from the $3 billion issued in 2012.

Part of the reason for the explosion in green bond issuance is the recognition of climate change and the need to invest in projects that at a minimum address or mitigate its impacts. Another reason is that there currently is not a universal set of standards for classifying a "green bond". The designation is voluntary, and each issuer is able to define "green" as they see fit. There is generally the expectation that an issuer will spell out their criteria, usually in an official statement, and that they will document uses of funds going forward, to ensure compliance with their own standards.

The market is trying to establish standards. One of the leaders is the Climate Bonds Initiative. CBI currently marshals experts to create criteria, by which an issuer can have their bonds certified by CBI. Currently, CBI has established criteria for water, wind, solar, geothermal, low-carbon buildings and transportation. Criteria for bioenergy, land use, hydropower, and waste management, and others are in the works. (Source: Climate Bonds Initiative, MuniNet, 29 April, 2017) Contact: Climate Bonds Initiative, www.climatebonds.net

More Low-Carbon Energy News Climate Bonds Initiative,  Green Bonds,  


Green Bond Issuance Jumps 42 pct in Q1, 2017 (Int'l. Report)
UNEP, Climate Bond INitiative
Date: 2017-04-24
According to the Climate Bonds Initiative, the green bonds market has experienced more than $20 billion issuance in January-March 2017. Globally, total green bonds issuance stood at $21.76 billion during the first quarter of 2017, up nearly 42 pct from the issuance during the same period last year. Approximately $81 billion of green bonds were issued in 2016, up from just $3 billion in 2012.

A remarkable $11.84 billion was issued in November 2016 alone, almost 14 per cent of the total issuance that year. Various private and government organizations have issued green bonds, from Apple and Toyota to the French government and New York's Metropolitan Transportation Authority. Currently Europe is leading the green bonds market, with numerous Europe-based mutual funds focusing on green bonds -- the Allianz Green Bond fund, the AXA WF Planet Bonds fund and NN Investment Partners' NN (L) Euro Green Bond fund. France, Iberdrola, and Enel have issued a total of $10.39 billion in green bonds -- representing around 48 pct of the total issuance for Q1, 2017, according to the Climate Bonds Initiative.

A growing number of U.S. fund companies are now looking to tap into investor demand for these bonds. The significant growth in the green bonds market has made the Climate Bonds Initiative raise its issuance estimate for this year from $130 billion to $150 billion. (Source: Climate Bonds Initiative, UNEP, 19 April, 2017)Contact: Climate Bonds Initiative, www.climatebonds.net; UNEP, Erik Solheim, Executive Director UN Environment, +254 20 762 1234, unepinfo@unep.org, www.unep.org

More Low-Carbon Energy News Green Bonds,  Climate Bonds Initiative,  UNEP,  


NorthVolt Plans €4Bn Lithium-Ion Battery Plant (Ind. Report)
NorthVolt
Date: 2017-03-22
According to the Irish Independent, is reporting that Stockholm-based lithium-ion battery specialist NorthVolt aims to raise €1 billion by 2018 for the construction of a €4 billion lithium-ion battery factory. The company plans to break ground late in 2018 and will announce a shortlist of possible plant sites in about a month.

NorthVolt is seeking equity investors for half the capital needed to build the factory with the rest raised through debt with the European Investment Bank or through the issuance of green bonds. The company expects to lower the cost of lithium-ion battery packs significantly, aiming to halve prices by 2022. (Source: NorthVolt, Irish Independent, 13 Mar., 2017) Contact: NorthVolt, Peter Carlsson,CEO, www.northvolt.com

More Low-Carbon Energy News Energy Storage,  Battery,  Lithium-ion Battery,  

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